By Wendy Van Sickle
Columbus, Ohio, July 27 – Barclays Bank plc priced $20 million autocallable contingent interest notes due July 21, 2022 linked to the common stock of Capital One Financial Corp., according to a 424B2 filing with the Securities and Exchange Commission.
The notes pay a quarterly contingent interest payment at an annual rate of 10.05% if the stock closes above its coupon barrier, 80% of its initial price, on the relevant review date. Investors will also receive any previously unpaid interest payments.
If the stock closes above its initial level on any quarterly review date, the notes will be automatically called at par plus the contingent interest payment and previously unpaid interest payments.
The payout at maturity will be par plus the contingent interest payment and any previously unpaid interest payments if the final level of the stock closes at or above its final barrier, 80% of its initial price.
Otherwise, investors will lose 1.25% for every 1% the worst performer declines beyond the buffer.
Barclays Bank plc is the agent. JP Morgan Securities LLC and JPMorgan Chase Bank, NA are the placement agents.
| Issuer: | Barclays Bank plc
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| Issue: | Autocallable contingent interest notes
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| Underlying stock: | Capital One Financial Corp.
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| Amount: | $20 million
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| Maturity: | July 21, 2022
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| Coupon: | 10.05% annual rate, payable quarterly if stock closes at or above coupon barrier on review date for that quarter; previously unpaid coupons will also be paid
|
| Price: | Par
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| Payout at maturity: | Par plus interest payment and any previously unpaid interest payments if stock finishes above final barrier; otherwise, investors will lose 1.25% for every 1% the worst performer declines beyond the buffer
|
| Call: | At par plus interest payment and any previously unpaid interest payments if stock finishes above initial level on quarterly review date
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| Initial price: | $157.52
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| Coupon barrier: | $126.02; 80% of initial price
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| Final barrier: | $126.02; 80% of initial price
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| Strike date: | July 22
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| Pricing date: | July 23
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| Settlement date: | July 28
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| Agent: | Barclays
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| Placement agents: | JP Morgan Securities LLC and JPMorgan Chase Bank, NA
|
| Fees: | 0.25%
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| Cusip: | 06748W5Y5
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